Millions of Chinese consumers ditch their credit cards amid prudent spending, slow economy
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Source: South China Morning Post
Published: 2026-05-25 15:00 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Business, Asia, Economy & Finance, China, Tax & Budget, Business & Economy, Asia Pacific
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Snippet:
Banks report there are 120 million fewer active credit cards in China with 687 million customer accounts, a dramatic drop from 2022’s peak
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